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20 Cards in this Set

  • Front
  • Back
Operation System
This includes the facilities, processing and ppl needed to produce goods and services
Discretionary Income
Money after paying for necessities
Return
Money that resulted in investments over a specified time
Controller
The chief accountant who keeps trade of revenue and expenses and is responsible for company's financial records
Gross National Product
Dollar value of stuff made by economic system in 1 year
Price Index
Index used to measure the changes in price
Values
Qualities people prize or think are important
Subsidy
form of financial assistance given to a business by the government
Affirmative Action
Regulations that provide for increasing the number of ppl in a certain area for hiring.
Marketing Mix
activites that go into selling of a product to consumers
Centralized
Way of organizing a company so that authority is focused in one place
Deparmentalized
way of organizing a company that involves assigning resolves to a specific unit or deparment
Fiscal year
12 month accounting period taht is usually different from a calender year
Just-in-time inventory system
system which managers order only enough to keep a business going for one day
Demographics
The study of a population
Overhead
A companies fixed costs
Owner's Equity
total assets - liabilities
Cooperative
A business where the firm owns it, but the members operate it
Capitol Resources
Machines buildings and equipment used to produce goods and services
Opportunity Cost
What one person gives up when making one choice over another